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cliff. let's get straight to the politics of these developments and the rhetoric and possible economic impact of failureto resolve the issues. joining as, former spia assistant to president george w. bush, a veteran political consultant and republican pollster. let's tart, if i may, with you. do you think both sides right now are seriously ready to go over the cliff? >> i think the preside i very ready because they arereading into this election last month a mandate that i simply don't see. the president got 15 million americans to vote against him which fail to produce any type of meaningful budget in his democratic controlled snate. we are at the disco club because of the president's inability to ev a single-day tackle entitlement reform and take it seriously talk about tax reform instead of tax hike so i think the way to have honest good faith initiations is to come to the table closer together. lou: before we restructure negotiations that act have not taken place, the republican side of t
cliff. let's get straight to the politics of these developments and the rhetoric and possible economic impact of failureto resolve the issues. joining as, former spia assistant to president george w. bush, a veteran political consultant and republican pollster. let's tart, if i may, with you. do you think both sides right now are seriously ready to go over the cliff? >> i think the preside i very ready because they arereading into this election last month a mandate that i simply don't...
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Oct 12, 2012
10/12
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earlier today on cnbc the co-chairs of the debt commission sounded off on that and the fiscal cliff. an interview exclusive right here on cnbc. >> if we do nothing, next year, you'll have the rate of growth slow to somewhere like 3% to 5%. you'll have unemployment go up another 2% to around above 9%. and 2 million more people will lose their jobs. and we're doing nothing about it. >> it's very serious. i think the candidates know how serious it is and trying to avoid it, maybe in part because it's consequential and the ideas that have to be put forward will be unaracktive to some people. we're in a position where new discipline will have to be imposed, people will be disappointed in the consequence and i think they're going to avoid it. >> amazing television on this network. want to bring in david stockman, director of the office of management and budget under president reagan and larry kudlow is here. david, welcome back. good to have you. >> thank you. >> obviously i think even ryan's critics might argue he crystallizes the urgency regarding debt in this country, maybe better than
earlier today on cnbc the co-chairs of the debt commission sounded off on that and the fiscal cliff. an interview exclusive right here on cnbc. >> if we do nothing, next year, you'll have the rate of growth slow to somewhere like 3% to 5%. you'll have unemployment go up another 2% to around above 9%. and 2 million more people will lose their jobs. and we're doing nothing about it. >> it's very serious. i think the candidates know how serious it is and trying to avoid it, maybe in...
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Sep 8, 2012
09/12
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cliff not at the end of year. we're not going to be able to afford our interest payments. we're lucky our interest rates are so low. we're not the ugliest person at the beauty pageant, if you will. where are you going to put your money? people are putting it here. our interest rates are so low, we can borrow low. that's not going to last forever. we go back up to a long-term average of 6, 8%, we add a trillion dollars in debt service and cost to our interest in over ten years. the interest alone will swallow up half of our federal expenditures. we'll be paying china for their military. we can't allow that to happen. that's one of the reasons why we're so proud to do this book, is that we really are putting policies in place and gentlemen, regardless of who's president in january 2013, they're going to face the exact same problems we have today. somebody has to tackle it, and part of what this action-oriented institute's doing, this book is doing is putting those ideas out there so we can start having a discussion
cliff not at the end of year. we're not going to be able to afford our interest payments. we're lucky our interest rates are so low. we're not the ugliest person at the beauty pageant, if you will. where are you going to put your money? people are putting it here. our interest rates are so low, we can borrow low. that's not going to last forever. we go back up to a long-term average of 6, 8%, we add a trillion dollars in debt service and cost to our interest in over ten years. the interest...
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which are creating amongst other things the so-called fiscal cliff that's completely fabricated and invented by bernanke irresponsibility at the federal reserve bank he's created one hundred million people around the world him and his fellow central bankers being thrust back into poverty as we call more top regularities boss in this very show so this is a complete and utter three hundred sixty degree cluster. with this is are the banks have gained half a trillion dollars since the crisis began since rates went to zero so that the final one the biggest bank of all j.p. morgan i've got my protection to if i have to mention them i need protection my silver protection right the biggest banks are the biggest takers in this policy consider j.p. morgan chase is cut although it's deposits disproportionately increased by forty six percent since two thousand and seven i preserve the most of this max is due to their acquisition of washington mutual it's interesting expenses declined by nearly eighty nine percent while their deposits increased by forty six percent so from two thousand and four
which are creating amongst other things the so-called fiscal cliff that's completely fabricated and invented by bernanke irresponsibility at the federal reserve bank he's created one hundred million people around the world him and his fellow central bankers being thrust back into poverty as we call more top regularities boss in this very show so this is a complete and utter three hundred sixty degree cluster. with this is are the banks have gained half a trillion dollars since the crisis began...
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Dec 4, 2012
12/12
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obama let the nation fall off the fiscal cliff. >> republicans need to acknowledge reality here. rates have to go up. earlier in the presidency, obama warneded it could hurt the economy. >> the nation is no longer in recession. and american manufacturing contracted in november for the first time in three months. the president is concerned enough that he proposed tens of billions in new stimulus spending in the debt talks. >> what is the justification for raising taxes? >> the fact of the matter is that it's vitally important that we extent and the president's view make permanent tax cuts for 98% of the american people. >> the president would like to see it done tomorrow and would sign it right away. >> they will put for ending deduction and closing loopholes. >> republicans move a great deal. who was the first person after the election was the speaker who went down and provided the re-knew. >> they blasted the proposal to limit deductions to tell bloomberg television it's unrealistic. >> that means every hospital and university and non-for profit, the agency. across the country w
obama let the nation fall off the fiscal cliff. >> republicans need to acknowledge reality here. rates have to go up. earlier in the presidency, obama warneded it could hurt the economy. >> the nation is no longer in recession. and american manufacturing contracted in november for the first time in three months. the president is concerned enough that he proposed tens of billions in new stimulus spending in the debt talks. >> what is the justification for raising taxes?...
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Dec 28, 2012
12/12
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what we're seeing, if we are not watching the magician doing fiscal cliff tricks, is the elephant in the room is smart companies are able to buy other companies with cash. a couple examples of companies that are buying other companies with cash. the best one's disney. they just bought lucas films for $4 billion financing it with debt. 2% interest rate, $80 million pretax cost, $50 million after tax cost. they pay that for three years, fourth year, they get "star wars" and make a billion dollars. tremendous deal for the shareholders. it's free money. david: essentially free money investing? >> absolutely. you're going to see mergers done for cash. the banks are told by the federal reserve to basically get the money out. they don't want to seem to lend it to mortgages, although, that's getting better, but corporations are buying stocks for cash, and what's important is that the markets figuring this out and pushing them up in the gaming industry. >> john -- >> consolidation. >> john, i want to jump in here. ahead of the choppiness we know occurs over the next few days, hours, it's anyo
what we're seeing, if we are not watching the magician doing fiscal cliff tricks, is the elephant in the room is smart companies are able to buy other companies with cash. a couple examples of companies that are buying other companies with cash. the best one's disney. they just bought lucas films for $4 billion financing it with debt. 2% interest rate, $80 million pretax cost, $50 million after tax cost. they pay that for three years, fourth year, they get "star wars" and make a...
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Dec 10, 2012
12/12
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, that doesn't avoid the fiscal cliff, does it? >> it avoids the tax side. there's still a spending problem. the president has no interest in us having a strong defense so i guess we can litigate that next year. there are other opportunities to debate spending, defense and entitlements. get the tax issues off the table. >> so the fiscal cliff. >> let the president own it. >> it ends with a witcher, not a -- whimper, not a bang. >> yes. >> there you go. thank you, panel. check out the panel plus where we pick up on our website, foxnewssunday.com and we'll post the video before noon eastern time. follow us on twitter @foxnewssunday. this program note. tune in to "fox news channel" tonight at 9:00 p.m. eastern for fly me to the moon. chord by neil cavuto, a marks the 40th anniversary of the last time man walked on the lunar surface. next, some final thoughts about my best friend. >>. >> chris: we've been getting totaling here on sunday mornings for nine years now. i hope you don't mind my sharing some personal moments with you from my
, that doesn't avoid the fiscal cliff, does it? >> it avoids the tax side. there's still a spending problem. the president has no interest in us having a strong defense so i guess we can litigate that next year. there are other opportunities to debate spending, defense and entitlements. get the tax issues off the table. >> so the fiscal cliff. >> let the president own it. >> it ends with a witcher, not a -- whimper, not a bang. >> yes. >> there you go. thank...
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Dec 28, 2012
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and our economy to some degree depending on your analysis of what the fiscal cliff means to get the policies they want. why is it -- i ask you this seriously. i don't know the answer. why does it seem like the president still doesn't get that? >> for whatever reason, it is hard important me to delve too deeply into psychology here but -- this president has always approached washington in a bit after different mindset. i think the lesson he took from the election might be different from what his supporters hoped to take from this election. there tends to be certain instant great pit indication component in terms of how the white house deals with these things. they are looking at the short term. i think that zeke's point, though, is correct. there are things the white house does get. i do think that it is important to bear in mind that there will be blames run around. i think republicans will end up looking as if they are holding things up but -- when the economy is going to get upended next week if things don't happen the way they should, even if there is no mini deal, no anything, t
and our economy to some degree depending on your analysis of what the fiscal cliff means to get the policies they want. why is it -- i ask you this seriously. i don't know the answer. why does it seem like the president still doesn't get that? >> for whatever reason, it is hard important me to delve too deeply into psychology here but -- this president has always approached washington in a bit after different mindset. i think the lesson he took from the election might be different from...
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Dec 3, 2012
12/12
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the clinton era rates which america will return to in january unless the fiscal cliff is resolved. it brought more revenues than at any point in the 1980s. thank you. [ applause ] >> grover! >> stephanie: norquist and maria commented this is a different environment than the 1990s. grover said we got four years of bad regulation, higher taxes. he wants to add more taxes to the tea party too. it will starve tea party i if obama pushes us over the cliff. [ screaming ] >> can't just wait for tea party three. >> probably about 150 billion. >> stephanie: that would be bad. okay. oh, let's see. phillip in durham disagrees with everything i say. about everything? >> ever! >> stephanie: hi, phillip. >> caller: hi, stephanie. look. appreciate the show. i think you have not been fair to the facts and let me just ask you from the -- what we're talking about -- >> stephanie: the facts are oversensitive in my opinion. >> caller: that's why you're better as a comedian than a political pundit. >> stephanie: all right. >> caller: the fact of the matter is simply this. timothy geithner proposed a bu
the clinton era rates which america will return to in january unless the fiscal cliff is resolved. it brought more revenues than at any point in the 1980s. thank you. [ applause ] >> grover! >> stephanie: norquist and maria commented this is a different environment than the 1990s. grover said we got four years of bad regulation, higher taxes. he wants to add more taxes to the tea party too. it will starve tea party i if obama pushes us over the cliff. [ screaming ] >> can't...
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Nov 14, 2012
11/12
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the market and the economy very much need for this fiscal cliff to be averted. then i also think that next year we need the grand bargain. i think there is a tremendous opportunity to accelerate the growth rate in america if we get a sound fiscal policy that's around the issues of the grand bargain. >> speaking of bargain, steve fold buying you guys for $775 million. i don't know whether you'd say that's a bargain or not, but is that representative of what we're going to see going forward in financial services deals? >> we think there's going to be more consolidation. kbw's research department has been speaking about that. we think our deal is a wonderful opportunity to make both of our companies stronger and we're very excited about it. >> tom, we'll see what the president says at 1:30. be well. >>> coming up at the top of the hour, our special report -- "rise above." focusing on the fiscal cliff and the drive for a solution to the fiscal cliff. >>> then at 1:30, of course we're going to cover the president's news conference live so stay tuned to cnbc. >>> but
the market and the economy very much need for this fiscal cliff to be averted. then i also think that next year we need the grand bargain. i think there is a tremendous opportunity to accelerate the growth rate in america if we get a sound fiscal policy that's around the issues of the grand bargain. >> speaking of bargain, steve fold buying you guys for $775 million. i don't know whether you'd say that's a bargain or not, but is that representative of what we're going to see going forward...
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Jul 25, 2012
07/12
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cliff in order to make a political argument about the top marginal tax rates. the president thinks he has struck political gold with this argument. he will be rabel to run for re-- he will be able to run for reelection with a platform under the mantle of deficit reduction. this may be politically advantage you but i doubt it. but i do know that from a fiscal and economic perspective, the president's signature proposal threatens serious damage to our already fragile economy. the president's tax increases on those he deems the rich in fact represent a massive tax hike on the small businesses that are necessary for economic and job growth. moreover, until he gets his way on raising taxes on these small businesses, he is threatening every single american taxpayer with a tax hike. like a petulant child, he is insisting that it is his way or the highway. we've had far too much of that. he'll get his way on raising taxes on the small business mend and entrepreneurs who find no shelter in today's democratic coalition of unions, lawyers, and government employees, or he
cliff in order to make a political argument about the top marginal tax rates. the president thinks he has struck political gold with this argument. he will be rabel to run for re-- he will be able to run for reelection with a platform under the mantle of deficit reduction. this may be politically advantage you but i doubt it. but i do know that from a fiscal and economic perspective, the president's signature proposal threatens serious damage to our already fragile economy. the president's tax...
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Dec 5, 2012
12/12
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cliff, six out of ten voters in november said the tax rates should go up, how much longer can he afford to politically keep this pledge and he said look, you heard it there, the rates when we close the revenues, loopholes will go up on the rich people. that still is the mindset. what's interesting, is talking to republicans leaving the house conference gop conference this morning, there is a lot of support for speaker boehner. there aren't cracks like there were during the debt limit where he had a faction that was lining up against him wholeheartedly. even after yesterday we heard all the stuff of fallout from the conservative right against his position, that conference this morning was pretty supportive of speaker boehner and seem to be -- say something we say way too often here in washington, d.c., doubling down on the speaker's approach, at least here in early december. >> everyone seems to be doubling down, luke. i mean the idea that now nobodies's moving at all. i thought it was interesting that boehner is adopting the rhetoric kind of fairness saying we're going to -- won't say t
cliff, six out of ten voters in november said the tax rates should go up, how much longer can he afford to politically keep this pledge and he said look, you heard it there, the rates when we close the revenues, loopholes will go up on the rich people. that still is the mindset. what's interesting, is talking to republicans leaving the house conference gop conference this morning, there is a lot of support for speaker boehner. there aren't cracks like there were during the debt limit where he...
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Nov 28, 2012
11/12
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if we go over the fiscal cliff at the end of the year, that tax rate on dividend goes from 15% to just over 43%. i think it is safe to say that there is bipartisan support among investors and shareholders for those special dividends now and not seeing that dividend tax rate skyrocket after the end of the year. >> it does seem to make sense. hampton pearson, thank you very much. >>> now, let's get back to our recovery road trip to atlanta where we find you once again, brian. >> thanks, mandy. in fact, the ceo of the company we're going to speak with right now just raised their dividend a couple of weeks ago by 50%. that is null rewell rubbermaid, of the five best performing in the atlanta intext. michael polk, thanks for coming on cnbc. you guys raids tsed the divident heading towards the end of the year, any thoughts of a one-time special big dividend? >> i don't think we'll go down that paths. of course that's the board's -- at their discretion. i doubt they'd choose to do that. we increased the dividend 50%. it is the second dividend increase we've taken this year. >> when you took o
if we go over the fiscal cliff at the end of the year, that tax rate on dividend goes from 15% to just over 43%. i think it is safe to say that there is bipartisan support among investors and shareholders for those special dividends now and not seeing that dividend tax rate skyrocket after the end of the year. >> it does seem to make sense. hampton pearson, thank you very much. >>> now, let's get back to our recovery road trip to atlanta where we find you once again, brian....
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Nov 28, 2012
11/12
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and it is time to make the tax rates more progressive. >> eliot: for more on the fiscal cliff negotiations, i'm joined by congressman peter welch, democrat from vermont. thank you for joining us. >> thank you. >> eliot: what should the deal look like? all of the chatter, smoke and mirrors, what is the deal you would like to see? >> well, first of all, i do believe the middle class has a stake and a good, solid balanced, deficit reduction plan. the plan should be what the president campaigned on, namely balance. that means we've got to have a substantial contribution from revenues. the revenues have to come from the folks who have been making good money during the recession. that's folks over $250,000 or some number close to. that the pentagon's got to make a contribution and if there is anything on healthcare, it's gotta be about reforming it, bringing the costs down, not cutting benefits. >> eliot: let's drill down a couple of pieces of this. what do you think the underlying ratio should be between cost cutting and revenue generation. last summer it was 10 to 1 in terms of cutting costs t
and it is time to make the tax rates more progressive. >> eliot: for more on the fiscal cliff negotiations, i'm joined by congressman peter welch, democrat from vermont. thank you for joining us. >> thank you. >> eliot: what should the deal look like? all of the chatter, smoke and mirrors, what is the deal you would like to see? >> well, first of all, i do believe the middle class has a stake and a good, solid balanced, deficit reduction plan. the plan should be what the...
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Nov 15, 2012
11/12
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the fiscal cliff. in other words, no deal making means bad recession. is that a scenario -- is that what the market's telling us? >> i think you're dead on. if you look at what's happened, real incomes have fallen much more during the recovery than they did during the preceding recession. 4.8% down versus 2.7% down. unemployment is higher now than when the president first took office. what's made people feel good is a rising stock market. they felt wealthier. now with all these big tax increases coming on on capital gains and dividends, people don't feel that anymore. the significance of this poll, larry, is it's the first poll taken after the election. and the rhetoric has been very strong, also from harry reid. remember, when it looked like romney might win, he said there's going to be in reaching across the aisle. that's what harry reid said. >> i assumed all along that congress, in its wisdom, cannot be so stupid as to let all the tax cuts expire on december 31st. they cannot be so stupid. it's jus
the fiscal cliff. in other words, no deal making means bad recession. is that a scenario -- is that what the market's telling us? >> i think you're dead on. if you look at what's happened, real incomes have fallen much more during the recovery than they did during the preceding recession. 4.8% down versus 2.7% down. unemployment is higher now than when the president first took office. what's made people feel good is a rising stock market. they felt wealthier. now with all these big tax...
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Dec 24, 2012
12/12
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people are ready to blame republicans for the problem if we go over the fiscal cliff. they are holding out for keeping tax rates down where the public has said tax rates should go up. way back before 2010, the public was saying it. there also behind in the image perspective. they are seen as the party of extremism and the summer of 2011 -- the summer did not engage deeply with the policy debates. they sniff out very early on -- the public of more sophisticated than some people think. there were no merits being used to make other political argument and people were very frustrated about that. nobody came of that debate looking good. that is when we started to see a wider opening in the gap of the leaders of the two political parties and the republican party has not overcome that image. they're playing a very similar strategy. >> how do you factor into your polls what the political workers call from game? you have to attribute that to get out the vote efforts. do you try to factor is that in before? >> it is one of the challenges. campaigns are using technology -- there i
people are ready to blame republicans for the problem if we go over the fiscal cliff. they are holding out for keeping tax rates down where the public has said tax rates should go up. way back before 2010, the public was saying it. there also behind in the image perspective. they are seen as the party of extremism and the summer of 2011 -- the summer did not engage deeply with the policy debates. they sniff out very early on -- the public of more sophisticated than some people think. there were...
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Dec 22, 2012
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the clock is ticking until the nation goes over the fiscal cliff and taxes go up for every family in america. but there is still time for the speaker to hit the brakes and avoid that cliff. >> even though democrats and republicans are arguing about whether those rates should go up for the wealthiest individuals, all of us, every single one of us agrees that tax rates should not go up for the other 98% of americans, which includes 97% of small businesses. every member of congress believes that. every democrat. every republican. so there is absolutely no reason, none, not to protect these americans from a tax hike. at the very least let's agree right now on what we already agree on. let's get that done. >> the house of representatives now stands in recess until thursday, december 27th. just four days before we step off that fiscal curb. this week, the office of management and budget issued guidance to government agencies outlining the potential impact of the $1.2 trillion in budget cuts, which will start to take effect on january first, if congress does not act. joining me now is ezra
the clock is ticking until the nation goes over the fiscal cliff and taxes go up for every family in america. but there is still time for the speaker to hit the brakes and avoid that cliff. >> even though democrats and republicans are arguing about whether those rates should go up for the wealthiest individuals, all of us, every single one of us agrees that tax rates should not go up for the other 98% of americans, which includes 97% of small businesses. every member of congress believes...
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Aug 28, 2012
08/12
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and then people worried about tax increases, we have this fiscal cliff, who knows what's going to happen? he puts in place lower tax rates. then these regulations that people keep talking about all the time and it's out there. you can see hit in the data addressing that. so there's substantive thing over this plan and they will increase growth. we know that from history. >> the important thing on that is john the right on the pieces that governor romney is suggesting but there's a philosophical theme, too, we need to focus on the long-term problems facing our country. if we fix those the short-term economy will also move. that's exactly opposite of president obama's philosophy. >> woodruff: one of the comments i've seen from a number of analysts who've looked at what governor romney has put out there, he's talked about pretty significant tax cuts for the corporate sector, individuals and i guess there's some... it's not clear yet what exactly would be the rate change but that if you add all that up it's not clear how we pay for that. if the debt is a real concern at some point before the
and then people worried about tax increases, we have this fiscal cliff, who knows what's going to happen? he puts in place lower tax rates. then these regulations that people keep talking about all the time and it's out there. you can see hit in the data addressing that. so there's substantive thing over this plan and they will increase growth. we know that from history. >> the important thing on that is john the right on the pieces that governor romney is suggesting but there's a...
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Sep 4, 2012
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we're going to go off the fiscal cliff because these guys can't make a decision on tax rates and spending programs. everyone is expecting when these spending program goes away, defense contractors are going to have to lay off, health care workers are going to have to lay off. transportation companies are going to have to lay off. how many layoffs are you expecting at afl-cio? >> i'm hoping we don't have any layoffs because the country doesn't need more laypauc dllay. we need them to work together. mitch mcconnell said his number one priority was to get rid of barack obama. not to create pensions or health care but to get rid of barack obama. we need to change that kind of attitude and put people back to work so that we can do what we do best and that's compete in a global economy and beat anybody who is out there. >> it does seem that the ryan/romney ticket puts the issues of the day front and center. i don't hear the president talking about a lot of these issues. i hear him asking for mitt romney's tax returns. i hear him talking about other things but not the issues of the day. job crea
we're going to go off the fiscal cliff because these guys can't make a decision on tax rates and spending programs. everyone is expecting when these spending program goes away, defense contractors are going to have to lay off, health care workers are going to have to lay off. transportation companies are going to have to lay off. how many layoffs are you expecting at afl-cio? >> i'm hoping we don't have any layoffs because the country doesn't need more laypauc dllay. we need them to work...
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Nov 10, 2012
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the economy would go over the fiscal cliff, sending the economy back into a recession. budget office projecting the unemployment rate could jump to 9.1% by the end of the year and that economic growth as well could shrink by half of a percent. i want to bring in bill schneider, chicago sun times washington bureau chief and columnist, lynn sweet. both big fans of "price is right," i understand. the president wants to keep the taxes and exit poll says 47% ironic number there, 47% says that there should be a tax hike for those earning over $250,000 a year but republicans don't want any tax hike. is this going to be the sticking point in negotiations? >> well, this is the first round. think of it this way. obama is now saying that the republicans are the ones that want a tax hike, right, the party that you might associate with being anti-tax. because if you do nothing, if you do nothing, we all, that's to congress, we all will pay more tacks next year. if you do what people will seem reasonable, if you give 98% of us -- because that's how many of us don't earn -- joint earn
the economy would go over the fiscal cliff, sending the economy back into a recession. budget office projecting the unemployment rate could jump to 9.1% by the end of the year and that economic growth as well could shrink by half of a percent. i want to bring in bill schneider, chicago sun times washington bureau chief and columnist, lynn sweet. both big fans of "price is right," i understand. the president wants to keep the taxes and exit poll says 47% ironic number there, 47% says...
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Dec 4, 2012
12/12
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you've got to be for a tax rate increase or we will go over this fiscal cliff. >> no, you don't. you could raise from a carbon tax of $20 a ton, which will deal with, we are having the biggest record carbon levels. you could raise -- at 4% a year over the next ten year, twice as much as you could from allowing the bush tax rates to lapse. why the income tax system is overburdened in the united states. we use it too much. we should be looking at other taxes. we can't do it in 29 days. why are we doing it in 29 days? >> but the president ran on raises taxes, right? if you look at the polls. 60% of people support raising taxes on people who make over $250,000 a year. how much of a problem is it, david, if the republicans you know, tom coburn said he does not want to raise that tax number. >> the president ran on his first term on opposing a health care mandate. presidents change their minds. the idea that you would do a revenue measure with an eye to basically doing something punitive, when there are much more important policy goals you can achieve and when it's not going to be good
you've got to be for a tax rate increase or we will go over this fiscal cliff. >> no, you don't. you could raise from a carbon tax of $20 a ton, which will deal with, we are having the biggest record carbon levels. you could raise -- at 4% a year over the next ten year, twice as much as you could from allowing the bush tax rates to lapse. why the income tax system is overburdened in the united states. we use it too much. we should be looking at other taxes. we can't do it in 29 days. why...
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Oct 12, 2012
10/12
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dimon said fiscal cliff worries could cause a further stall there in the fourth quarter. for wells the revenue miss was accompanied by a 25 basis point drop in margins, much larger than the market had expected. and not much near-term relief in sight. organic loan growth at wells is slowing hurting the bank even more. while executives tried to reassure the market, ceo john stump says he's focused on returning capital to investors and the ceo says he's still open to accusations. not much in today's release to get excited about. the biggest problem for both of these banks they thought the headwinds plaguing them in qe3 were at least around for the next few quarters. >>> we are watching apple and amazon today. reports that apple is expected to unveil its highly anticipated miniipad at an october 23rd event. meanwhile, amazon's ceo says he's actually not making any money when he sells a kindle device. our tech reporter jon fortt in silicon valley with two very different business models for the tablets. jon? >> tyler, this october 23rd date for apple is interesting for a couple
dimon said fiscal cliff worries could cause a further stall there in the fourth quarter. for wells the revenue miss was accompanied by a 25 basis point drop in margins, much larger than the market had expected. and not much near-term relief in sight. organic loan growth at wells is slowing hurting the bank even more. while executives tried to reassure the market, ceo john stump says he's focused on returning capital to investors and the ceo says he's still open to accusations. not much in...
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Dec 5, 2012
12/12
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the "news nation" is following where things regard right now with the fiscal cliff and there's hot rhetoric to go around. >> our members believe strongly that raising tax rates will hurt the economy. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue. >> in order for us to raise the amount of revenue that's needed just by closing deductions and loopholes for high earners we'd have to, for example, eliminate or severely cap the char itible deduction. >> an obsession to raise taxes not going to solve the problem. what will solve the problem is doing something about the entitlements, taking on the wasteful spending in washington. >> and meantime, "the new york times" jonathan wiseman reports behind the scene republican leaders are considering the president's plan to extend middle class tax cuts now an address the debt and spending in the new year. here's republican senator tom coburn on "morning joe." >> actually, i would rather see the rates go up than the other way and greater chance to broaden the base in the future. >> do something, a down payment
the "news nation" is following where things regard right now with the fiscal cliff and there's hot rhetoric to go around. >> our members believe strongly that raising tax rates will hurt the economy. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue. >> in order for us to raise the amount of revenue that's needed just by closing deductions and loopholes for high earners we'd have to, for example, eliminate or severely cap the...
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Sep 11, 2012
09/12
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is going or the fiscal cliff. the alternative version is this one be cbo came up with. if he would extend the provisions. this shows you what the costs of kicking the can down the road is versus actual having a recession which nobody wants. if he were to go to the fiscal cliff, you would actually see the u.s. debt held by the public figure we were talking about all over time and said a rise. -- instead of rise. this is the deficit as a share of gdp. the goal here is trying to divide the u.s. deficit as a share of gdp. if he were to look at the total deficit over the last three or four years, at its peak almost 10% of gdp. the 13% of gdp because that is roughly in line with the growth in the economy. if he were to have your deck growing at the same pace, he can manage that and keep it under control. this is not in your packet. it is really a confusing term. this is how financial markets are try to came out -- to game out what happens over the next few months. there are trying to determine how they should trade at a
is going or the fiscal cliff. the alternative version is this one be cbo came up with. if he would extend the provisions. this shows you what the costs of kicking the can down the road is versus actual having a recession which nobody wants. if he were to go to the fiscal cliff, you would actually see the u.s. debt held by the public figure we were talking about all over time and said a rise. -- instead of rise. this is the deficit as a share of gdp. the goal here is trying to divide the u.s....
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Nov 7, 2012
11/12
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credit rating if we go off that fiscal cliff. analysts are saying president obama, you don't have time to celebrate. congress, you, president obama have to deal with this fiscal cliff in the coming weeks. if we do fall off that cliff, the country would go back into a recession, cause unemployment rate to jump. one analyst telling me this morning, soledad, if there's no resolution on this fiscal cliff, stocks will plummet and the economy will drowned in quicksand. >> that's just doom and gloom. alison kosik for us this morning. thank you for that update. >>> we want to take you no you to miami, florida. still a state in yellow. we have not yet projected florida. ashleigh banfield is there. you were dealing with long lines yesterday. today there's a hold up. what's the hold up, ashleigh? >> well, soledad, it wouldn't be florida if there wasn't a hold up. you're right. and the hold up is the counting, unfortunately. what a strange notion. what do you do in florida when you wake up in the morning and you know that your state is the o
credit rating if we go off that fiscal cliff. analysts are saying president obama, you don't have time to celebrate. congress, you, president obama have to deal with this fiscal cliff in the coming weeks. if we do fall off that cliff, the country would go back into a recession, cause unemployment rate to jump. one analyst telling me this morning, soledad, if there's no resolution on this fiscal cliff, stocks will plummet and the economy will drowned in quicksand. >> that's just doom and...
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Dec 3, 2012
12/12
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cliff. and i think that the president should take a case study analysis and look at what president calvin coolidge did and president jfk did, john f. kennedy did when they went in and lowered tax rates and you increase revenues which is exactly what we're talking about. >> were you-- did you feel like it was a bait and switch from president obama from what you'd heard about in the campaign and light on the details, but that's one of the things i've heard from members of congress that they thought, wait a second, that's not at all what you thought was going to happen. >> yeah, you're absolutely right. what you see happening right now, dana, is really the art of politics, versus the science of good policy and i think we need to move away from campaign mode and we need to do the things that are going to stimulate economic growth and wealth expansion, not wealth distribution, when the president continues to be focused on the wealth distribution politics, which is something that president thomas
cliff. and i think that the president should take a case study analysis and look at what president calvin coolidge did and president jfk did, john f. kennedy did when they went in and lowered tax rates and you increase revenues which is exactly what we're talking about. >> were you-- did you feel like it was a bait and switch from president obama from what you'd heard about in the campaign and light on the details, but that's one of the things i've heard from members of congress that they...
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Nov 14, 2012
11/12
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megyn: apparently the rates for the middle class if we go off the fiscal cliff, if you make between $70,000 to $120,000 you will go to 28%. if you are rich over $250,000 you will go from 32% to 39.6%. president obama said that's what you paid under president clinton. >> that the basic argument. this is the tax rate we had before. the economy kido did well under it. what you brought up before was the point i was going to make. barack obama has no interest in destroying the u.s. economy. he does not believe that raising tax rates on people making more than $250,000 will harm the economy. i tend to agree with him. i do think on the small business issue it's possible maybe that they would reach some sort of deal. maybe there could be carve out for the businesses that make over $250,000. right now everyone is in their corners and starting points and they are starting to negotiate. we don't know who is going to give on what. megyn: the more they coffer out the less meaning -- the more they carve out, the less meaningful it will be. what is the argument for not taking us back to the tax rates we h
megyn: apparently the rates for the middle class if we go off the fiscal cliff, if you make between $70,000 to $120,000 you will go to 28%. if you are rich over $250,000 you will go from 32% to 39.6%. president obama said that's what you paid under president clinton. >> that the basic argument. this is the tax rate we had before. the economy kido did well under it. what you brought up before was the point i was going to make. barack obama has no interest in destroying the u.s. economy. he...
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Nov 27, 2012
11/12
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will they put their long-term interests over the fiscal cliff? i think that's one thing to watch out for. >> justin, before we let you go, in terms of the fiscal -- calling it a mole hill, curve, take your -- >> fiscal bump of various height depending on what side of the aisle you sit on, what are the ramifications if the president or congress decides to go over that to your mind? >> so, both a good side and bad side. if we let -- go over the fiscal cliff, it's going to solve our fiscal problems. the deficit will essentially go away. the bad side we're in a deep recession and the deficit will go away. this is an economy that can't afford to have 4% of our spending disappear just next year. we'll see a recession next year almost for sure and for certain. so that's the sense in which i think this is something to worry about. we want -- the recovery is faltering right now and we really don't need congress clubbing it over the head again, pushing us back down yet again. >> yet again. justin, thank you, sir, from the university of michigan. great to h
will they put their long-term interests over the fiscal cliff? i think that's one thing to watch out for. >> justin, before we let you go, in terms of the fiscal -- calling it a mole hill, curve, take your -- >> fiscal bump of various height depending on what side of the aisle you sit on, what are the ramifications if the president or congress decides to go over that to your mind? >> so, both a good side and bad side. if we let -- go over the fiscal cliff, it's going to solve...
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Dec 9, 2012
12/12
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that doesn't avoid the fiscal cliff, does it? >> it avoids the tax side of the fiscal cliff. and most of the cuts in spending, except for defense and the president sees no interest in having a strong defense and we'll litigate that next year and there are opportunities to debate the spending, defense and entitlement issues next year, get the tax issue off the table, the weakest one for the republicans and let the president own it -- >> end with a wimper, not a bang. >> yes, could be. >> chris: there you go, see you next week, don't forget, check out panel plus where our group picks up right with the discussion on our web site, foxnewssunday.com and we'll post the video before noon eastern time and follow us on twitter. @foxnewssunday. this program note: tune into fox news channel tonight at 9:00 p.m. eastern for "fly me to the moon" anchored by neil cavuto it marks the 40th anniversary of the last time man walked on the lunar surface. up next on "final thoughts." about my best friend. ♪ i'm a conservative investor. i invest in what i know. i turned 65 last week. i'm getting
that doesn't avoid the fiscal cliff, does it? >> it avoids the tax side of the fiscal cliff. and most of the cuts in spending, except for defense and the president sees no interest in having a strong defense and we'll litigate that next year and there are opportunities to debate the spending, defense and entitlement issues next year, get the tax issue off the table, the weakest one for the republicans and let the president own it -- >> end with a wimper, not a bang. >> yes,...
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Oct 11, 2012
10/12
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CNBC
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you went right at the fiscal cliff. let's listen to what they said. >> if we do nothing, next year, you'll have the rate of growth slowed to somewhere like 3% to 5%. you'll have unemployment go up another 2% to around -- above 9% and 2 million more people will lose their jobs and we're doing nothing about it. >> it is very serious. i think the candidates know how serious it is. i think they're trying to avoid it, maybe in part because it is so consequential and serious and maybe the ideas that would have to be put forward will be unattract i have to some people. obviously we're in a position where new discipline is going to have to be imposed, people will be disappointed in the consequence so i think they're going to avoid it. >> they worship, said alan simpson, at the god of re-election. i would emphasize what mr. blankfein said there, the candidates seem in large part to be avoiding the consequences of fiscal cliff precisely because it is so consequential. do you see it that way? >> well, not exactly, tyler. let me ma
you went right at the fiscal cliff. let's listen to what they said. >> if we do nothing, next year, you'll have the rate of growth slowed to somewhere like 3% to 5%. you'll have unemployment go up another 2% to around -- above 9% and 2 million more people will lose their jobs and we're doing nothing about it. >> it is very serious. i think the candidates know how serious it is. i think they're trying to avoid it, maybe in part because it is so consequential and serious and maybe the...
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Nov 3, 2012
11/12
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that's when the nation would drive off the so-called fiscal cliff. if that were to happen tax rates would go up for nearly every single income group. taxes on investment income would rise. payroll taxes would increase. huge federal spending cuts would be triggered. 1 trillion dollars over 9 years, with the pentagon absorbing about half those cuts. by one estimate, the defense industry alone could lose more than 300 thousand jobs. and some 2 million already unemployed americans would lose their benefits. news reports say that a bipartisan senate group is already trying to fashion an agreement combining spending cuts with a tax code overhaul to keep the country out of a new recession. >> and just last week chief executives of 80 major corporations urged congress to fashion a deal to reduce the deficit and said that increased tax revenues have to be part of the bargain. but an overwhelming majority of house and senate republicans have signed the norquist no tax pledge. so many observers think the best congress will be able to do is pass a stopgap measur
that's when the nation would drive off the so-called fiscal cliff. if that were to happen tax rates would go up for nearly every single income group. taxes on investment income would rise. payroll taxes would increase. huge federal spending cuts would be triggered. 1 trillion dollars over 9 years, with the pentagon absorbing about half those cuts. by one estimate, the defense industry alone could lose more than 300 thousand jobs. and some 2 million already unemployed americans would lose their...
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Dec 4, 2012
12/12
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we'll go back to the fiscal cliff. if high end tax rates are successful entrepreneurs rocket higher, you can bet the number of millionaires in this country is going south. that's if high taxes go up. millionaires go down. that's no good. in our land of opportunity, i want more millionaires. and i think the better for them and the economy. robert frank will join us with some very arresting numbers. high tax, fewer millionaires. not good. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> 28 days until the country plummets off the tax and fiscal cliff. big tax hikes could be coming for everyone but we see als
we'll go back to the fiscal cliff. if high end tax rates are successful entrepreneurs rocket higher, you can bet the number of millionaires in this country is going south. that's if high taxes go up. millionaires go down. that's no good. in our land of opportunity, i want more millionaires. and i think the better for them and the economy. robert frank will join us with some very arresting numbers. high tax, fewer millionaires. not good. two years ago, the people of bp made a commitment to the...